Wednesday, March 5, 2014
Obamacare already boosting household budgets.
The Affordable Care Act, President Barack Barack Obama’s signature health law, is already boosting household income and spending.
The Commerce Department reported Monday that consumer spending rose a better-than-expected 0.4% and personal incomes climbed 0.3% in January. The new health-care law accounted for a big chunk of the increase on both fronts.
On the incomes side, the law’s expanded coverage boosted Medicaid benefits by an estimated $19.2 billion, according to Commerce’s Bureau of Economic Analysis. The ACA also offered several refundable tax credits, including health insurance premium subsidies, which added up to $14.7 billion.
Taken together, the Obamacare provisions are responsible for about three-quarters of January’s overall rise in Americans’ incomes.
Look, more news you won't be able to see on Fox News.
This is the kind of information that absolutely HAS to disseminated far and wide.
The GOP is still counting on running against the Affordable Care Act in 2014, the more data like this that gets out there the harder that will prove to be.
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